Tom has taken out a loan for college. He started paying off the loan with a first payment of $300. Each month he pays, he wants to pay back 1.05 times as the amount he paid the month before. Explain to Tom how to represent his first 24 payments in sigma notation. Then explain how to find the sum of his first 24 payments, using complete sentences. Find the sum of his first 24 payments. Explain why this series is convergent or divergent.

Question

Tom has taken out a loan for college. He started paying off the loan with a first payment of $300. Each month he pays, he wants to pay back 1.05 times as the amount he paid the month before. Explain to Tom how to represent his first 24 payments in sigma notation. Then explain how to find the sum of his first 24 payments, using complete sentences.  Find the sum of his first 24 payments.  Explain why this series is convergent or divergent.

SmokeyBrown · Answer

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